eXp SA Newsletter - Issue 4

Happy Holidays

Welcome To Our World

eXp Realty South Africa Issue 4 - 2023

Introduction From the Editor

As we reflect on a year brimming with activity and numerous accomplishments, our team continues to stand united while achieving various milestones, driven by the collaborative and positive spirit of our people. Despite the global challenges we've faced, the property sector continues to evolve, and it is our innovative thinking and approach that truly impact our success in this transformative and wealth-generating landscape.

A heartfelt thank you goes out to our eXceptional real estate professionals and the dedicated agent team who have eXcelled locally. Our sincere gratitude extends to the leadership team in South Africa; their collective expertise has made our business truly agent-centric and supportive. To our regional and international teams, your guidance and unwavering support have been crucial in propelling South Africa as one of eXp's operational hubs in 24 countries worldwide.

It is indeed a privilege to witness and contribute to the visionary leadership of Glenn Sanford and the eXp leadership team. Their commitment to being "the most agent-centric real estate company on the planet" continues to inspire and drive our shared success. It is truly an amazing experience for me to be a part of this global family.

Looking back at this year’s achievements, witnessing eXp Realty's global expansion to over 89,000 agents across 24 countries fills us with pride, it is a great feeling for all of us to know that we are making history as part of the world's fastest-growing real estate company. We're not only the largest independent non-franchised real estate company but also boast the world's most eXceptional compensation model. Celebrating six consecutive years as one of Glassdoor’s ‘Best Companies to Work For’ adds another layer of delight.

Turning our attention to eXp in South Africa over the past year, our interactions with the agent team have been personally rewarding, with notable recognition for our outstanding results.

Maintaining a debt-free, cash flow positive, and profitable status is a testament to our strong leadership, experienced agent team, and robust operational support through advanced tools and technology. As we continue to grow in volume, we anticipate our relationships to flourish eXponentially.

A special acknowledgment goes to our valued service providers, including The 13th Floor (marketing support), Three Sixty (merchandising), DocFox (FICA), Boshoff Attorneys (legal support), and recent additions like PropCon, The Virtual Agent, PropData, and Snappit, offering additional services to our esteemed agent team. We also extend gratitude to Lightstone, The Real Estate Platform, List Globally, The James Edition, and various syndications, whose contributions significantly enhance our operations.

Recognizing the innovation of forward-thinking partners like Flow Marketing and our eXp technicians, we commend their excellence in developing tools such as ChatBot Luna, Frame VR, and other unique systems that elevate our real estate experience and contribute to shaping the future of the industry.

A big thanks to all conveyancers, banks, bond originators, and strategic relationships that have been formed with our agent team. You are much appreciated!

Our hugely successful roadshows, spanning 30 venues across South Africa and reaching over 2,500 real estate professionals, wouldn't have been possible without the generous sponsorship from MultiNet HomeLoans, The Virtual Agent, and Boshoff Attorneys. Thank you for your continued support.

We strongly believe that eXp Realty is quickly becoming a household name and on behalf of our real estate professionals, we wish to thank our investors, developers, sellers and buyers, as well as our key clients for the initial, current and future support.

Some standout moments from this year for me have been: • Tarci Sefara gracing the stage at our ‘Rock The Comma’ celebration, having CAPped as an agent with eXp after initiating her career in a roadside salon, building her career through the big brands, and arriving at eXp to unlock freedom and her full potential as a real estate entrepreneur!

• Brad Neille, a top agent within eXp South Africa who CAPped in his first year in 10 months, embracing the model and CAPping in his second year in just 6 weeks and one day – which is nothing short of amazing!

• Our agent-led event, The Build Africa Conference being hosted in Cape Town - the largest yet paid-for event of this nature. Well done to Steve Johnstone, who is the Global Agent Advisory Council Chairman. For this, we as South Africans are truly thankful.

• Our very own James Conyers, Chairman of the South African Agent Advisory Council embracing the needs of his committee and our entire agent team. Well done, James, and a big congrats to you and your team, NRG powered by eXp, for achieving eXp Global’s Most Unit Sales by a Team. This is a phenomenal achievement you can be very proud of!

We also need to celebrate the numerous CAP agents and their achievements. We had so many CAP agents this year and I am confident we will see even more CAP agents in 2024, an eXciting year ahead indeed.

Introduction From the Editor cont.

The saying goes, “What you put in is what you get out.” We can’t wait to see who our first South African ICON agent will be in 2024!

A major shout out and congratulations to Mark Luker, Director of Finance EMEIA, on achieving and being awarded the Global Ambassador Award, which is a proud moment for South Africa.

Furthermore, a well-deserved congratulations to Ilse Anhaeusser, our eXp Realty South Africa Financial Controller, for receiving the Global Ambassador Award at the recent EXPCON event. Our South African team continuing to impress on a global stage.

Luckily, I also took one for the team by being awarded The Country Leader of the Year Award, which I’m super proud of and chuffed for our entire team! And with a huge dedication to unlocking our Agent Development Path and Mentorship Program, Stuart Hyslop’s value was recognised through receiving eXp Global’s Impact Award.

With our collaborative family effort and positive approach to real estate, eXp Realty in South Africa now boasts more than 1,100 agents, taking us from the 5,000th-largest real estate company in South Africa to the eighth. We achieved this in just two years and nine months of real operation. I have no doubt that we are the fastest-growing real estate company in Africa and this kind of growth has never been seen before. The eXciting part is that this has also translated into eXceptional listings and production.

Looking ahead to 2024, which is a very important year for South Africa as a whole, on the eXp Realty South Africa front, we have some eXceptional innovations which are being unlocked. These include artificial intelligence tools, chatbots, the PropNow Bidding Platform, the Overo After Key SalesPlatform, DocFox our Friend in FICA filing, an enhanced ICON Agent Award Program to

attract the best agents in the business, and the introduction of eXp Luxury to go above and beyond our clients’ eXpectations.

These are a few of the creative changes that we will be implementing going forward. eXp South Africa will be recognised as eXp Realty in South Africa going forward, to embrace our mother brand. Our entire team is super eXcited about this announcement. Should you wish to meet us in 2024, consider attending one of our 52 roadshows in 52 weeks and consider the move.

We cannot wait for our annual awards in April and The Race to Vic Falls reducing draw, all of which are aimed at recognising our people and service excellence.

To our esteemed agent team, the leadership team extends heartfelt gratitude for a remarkable 2023, and we eagerly anticipate an even more prosperous 2024!

A special acknowledgment goes out to our entire South African team, spread across the country. I am genuinely grateful for the privilege of being a part of this incredible family. Your enthusiasm makes me eXcited about today, tomorrow, and the future. To my dedicated management team, you truly are the best, and I extend sincere thanks for your unwavering support of our real estate professionals in the most exemplary manner.

As we approach the holiday season, may you and your families find peace and joy. Here's to an exciting journey ahead with eXp! Yours sincerely, Andrew Thompson Country Leader eXp Realty South Africa

eXp World Holdings eXp Realty News eXp World Holdings Q3 2023 Results

eXp World Holdings reported solid and impressive results in Q3 of 2023, despite market challenges that continue to pose a threat.

Third Quarter 2023 Consolidated Financial Highlights as Compared to the Same Year-Ago Quarter: • Agent count grew 5% compared to Q3 2022 to more than 89,000 agents in 24 global markets.

• International realty revenue increased 47% compared to Q3 2022 to an all-time record.

• Company declared a cash dividend for Q4 2023 of $0.05 per share of common stock.

• Revenue decreased 2% to $1.2 billion.

• Gross profit decreased 10% to $83.6 million.

• Net income of $1.3 million. Earnings per diluted share of $0.01 compared to earnings per diluted share of $0.03 in the year-ago quarter.

• Adjusted EBITDA (a non-GAAP financial measure) increased 53% to $19.0 million.

• Generated $56.8 million of Adjusted Operating Cash Flow (a non-GAAP financial measure).

• As of Sept. 30, 2023, cash and cash equivalents totalled $120.1 million, compared to $121.6 million as of Dec. 31, 2022. The Company repurchased approximately $55.9 million of common stock during the third quarter of 2023.

• The Company paid a cash dividend for the third quarter of 2023 of $0.05 per share of common stock on 4 September 2023. On 25 October 2023, the Company’s Board of Directors declared a cash dividend of $0.05 per share of common stock for the fourth quarter of 2023, eXpected to be paid on 30 November 2023 to stockholders of record on Nov. 16, 2023.

“During the third quarter, we continued to focus on agent-centric innovation that drove meaningful results, as we once again increased eXp’s agent Net Promoter Score (aNPS) while

eXtending our market share gains,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings.

“In a slower market environment where every transaction counts, eXp’s agents in the U.S. significantly outperformed the market during the third quarter. This outstanding performance speaks to the differentiated nature of eXp’s platform and the power of our unique, success-oriented culture.

“Moving forward, we see many opportunities to further iterate on our agent-centric value proposition with programs like Boost, Accelerate, Thrive, and eXp eXclusives and partnerships with Opendoor and the HomeRiver Group. Internationally, we recently announced a partnership with HomeHunter Global. All of this ultimately empowers our agents to spend more of their time on revenue-generating opportunities. We continue to believe that our investments in agent success are the key to driving superior growth over the long term.”

Jeff Whiteside, CFO and Chief Collaboration Officer of eXp World Holdings, also commented, “We delivered solid financial performance during the third quarter, with year-over-year Adjusted EBITDA growth of 53% despite challenging market conditions as we continued to improve the efficiency of our operations. We once again gained market share, despite lower market activity due to elevated mortgage rates, which resulted in decreased transaction value compared to the prior year quarter.

“While we continue to prudently manage eXpenses, our strong cash flow profile enables us to simultaneously pursue an ambitious and innovative agent-centric agenda while allocating capital to our shareholders through share repurchases and cash dividends. By continuing to invest in our agents through the current market cycle, we are building a strong foundation for accelerated growth and continued share gains despite fluctuations in the market,” Whiteside added.

Third Quarter 2023 Operational Highlights as Compared to the Same Year-Ago Period: • eXp Realty ended the third quarter of 2023 with a global agent Net Promoter Score (NPS) of 74, up from 71 a year ago.

NPS is a measure of agent satisfaction and an important key performance indicator (KPI) given the Company’s intense focus on improving the agent eXperience.

• Agents and brokers on the eXp Realty platform increased 5% to 89,156 as of 30 September 2023.

• Transactions increased 1% to 139,480.

• Transaction volume decreased 4% to $48.5 billion.

• Announced the first brokerage, The Bean Group, to join eXp Realty through the Boost program on 12 September 2023.

• Hosted the inaugural EXPCON Canada, the Company’s first signature event held outside the United States, on 6-8 September 2023.

• Announced the eXpansion of its partnership with Realty.com into Canada with the launch of Realty.ca on 7 September 2023.

• Appointed Bain Fellow and NPS creator Fred Reichheld to the eXp World Holdings Board of Directors on 7 September 2023.

• Announced eXp Realty eXceeded the 1,000-agent milestone in South Africa on 10 August 2023.

• Launched eXp Luxury Division in Canada on 7 September 2023.

eXp’s Michael Valdes Named a HousingWire Vanguard

Michael Valdes, eXp Realty Chief Growth Officer, certainly has the attention of the HousingWire Vanguard voting panel as he was named a 2023 Vanguard for the second straight year.

Valdes is respected throughout the industry

“The 2023 Vanguards are made up of the industry’s most impressive and powerful leaders who are fuelling the growth of their organizations and leaving an indelible mark on the industry,” said HW Media Editor-in-Chief, Sarah Wheeler.

His contributions to eXp are notable. In a remarkable span of just 20 months, and all while navigating the challenging terrain of a pandemic, he skilfully steered a team that eXtended eXp Realty’s reach to 24 international locations. Remarkably, he achieved this feat without ever stepping onto an airplane – a groundbreaking accomplishment believed to be unprecedented in the real estate industry.

“These remarkable individuals underscore the pivotal role that visionary leadership plays in our ever-evolving housing ecosystem. These winners’ achievements stand as a testament to the enduring significance of the Vanguards award which has become a career-changing accolade reserved only for the industry’s top leaders.”

Valdes was named a Vanguard in 2022 following then eXp Realty CEO, Jason Gesing, who was named in 2021 and eXp World Holdings Founder, CEO and Chairman, Glenn Sanford, who was recognised in 2020.

This is the ninth year that HousingWire has recognised eXecutives in the housing economy for their outstanding leadership in the space. This year, 100 honourees were selected for the prestigious award.

Valdes has been with eXp Realty since May 2020 and quickly established himself as a leader, rising from Executive Vice President, International Expansion, to President of Global in September 2020. He was named Chief Growth Officer in August 2022.

As one of the few Latino C-level eXecutives of a publicly traded real estate company in the U.S., Valdes is an inspiring, encouraging leader who is well-respected for his integrity and for his ability to build community. His knowledge of global markets and demonstrated ability in international growth and operations has been invaluable for eXp’s eXpansion.

In 2021, Michael successfully led eXp Realty’s agents and staff to raise more than $600,000 for a joint initiative with New Story to help fund the building of more than 100 homes in the Morelos region of Mexico, which was devastated by a 7.1 magnitude earthquake in September of 2017.

Michael has also served on the boards of The National Association of Hispanic Real Estate Professionals (NAHREP) and the Asian Real Estate Association of America (AREAA). He is also the host of the Global Real Estate Mastermind podcast, which is distributed in more than 100 countries.

eXp World Holdings Appoints Fred Reichheld to Board of Directors eXp has announced the appointment of Net Promoter® System (NPS) creator, Fred Reichheld to the Company’s Board of Directors, effective 7 September 2023.

“We are honoured to welcome Fred Reichheld to our Board of Directors,” said Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings. “For companies that value customer and employee satisfaction and loyalty, as we do, the holy grail is the Net Promoter System. Conducting regular NPS surveys with our agents and staff since 2016 is core to delivering on our agent-centric mission, and Fred shared his wisdom with our team at this year’s Shareholder Summit. I am thrilled to have him on our Board of Directors and look forward to working even more closely together.”

In addition to creating the NPS system, Reichheld is a sought-after speaker and best-selling author. His most recent book, Winning on Purpose: The Unbeatable Strategy of Loving Customers, eXplains how NPS helps companies become truly customer-centric, eXperiencing profitable growth through systematically converting more customers into promoters and fewer into detractors. He is currently a Bain & Company Fellow and founder of their Loyalty practice.

He graduated with honours both from Harvard College (B.A., 1974) and Harvard Business School (M.B.A., 1978).

Concurrent with Reichheld’s appointment, Sir Darren Jacklin will step down but continue to serve on the eXp Realty Canada Board of Directors. Following these changes, the eXp World Holdings Board will comprise seven directors, four of whom are independent. Jacklin served on the eXp World Holdings Board of Directors for nearly 10 years.

“Darren has been an integral part of this company, and we are fortunate to have his continued insight and leadership on the eXp Canada Board of Directors,” said Sanford. “I would like to personally thank him for all his many contributions over the years. His experience traveling to four continents and over 50 countries mentoring entrepreneurs and business owners on specific and measurable strategies designed to build their success was a great asset to us. eXp Canada will greatly benefit from his eXperience and wisdom.”

Real Estate Veteran, Bryon Ellington Set to Revolutionise Agent-Driven Learning Bryon Ellington has been appointed as eXp Realty Chief Learning Officer, responsible for developing custom, agent-driven training and coaching.

Ellington, a seasoned professional with more than 20 years of eXperience in real estate and coaching, brings a wealth of knowledge and eXpertise to eXp Realty. He will focus on developing agent-driven training at every level, setting a new standard for success in the real estate industry.

“I am eXcited to join the eXp Realty team and contribute to its mission of empowering agents to reach their full potential,” Ellington said. “Whether you are a new agent or lead a massive team, with eXp you can continue to grow your business to eXceed your goals.”

“Bryon’s dedication to agent success aligns perfectly with our values, and he eXcels at driving growth and new revenue streams,” said Glenn Sanford, Founder and CEO of eXp Realty.

“Under his leadership, eXp Realty will become the leading brokerage in training, with a focus on delivering the best education and resources to help our agents eXcel. Throughout his career, Bryon has helped numerous agents achieve incredible accolades, increase productivity metrics, and grow their businesses.”

Ellington’s impressive tenure includes notable eXecutive roles most recently as Chief Operating Officer and Chief Development Officer at Century 21. He also held positions at Keller Williams, as Chief Product Officer and Chief Operating Officer of the KW Worldwide International Franchising division. Additionally, he served as Chief Learning Officer, where his achievements earned him the distinction of winning the Training magazine T125 Top Training Companies award for four consecutive years and induction into the Hall of Fame.

Ellington’s passion is helping entrepreneurs in the real estate space build businesses beyond their dreams.

Earlier in his career, at Anywhere (Realogy), he successfully created and led the training and coaching divisions for all their franchise brands and company-owned operations.

eXp Global Events 39 Top Agents and Teams Recognised at

EXPCON 2023, held from 2-5 October 2023 in Las Vegas, is eXp’s eXclusive gathering of the world’s top real estate professionals. This year’s event focused on innovation and leveraging artificial intelligence to drive business.

Glenn Sanford, Founder and CEO of eXp Realty, along with Michael Valdes, Chief Growth Officer, and Leo Pareja, Chief Strategy Officer, proudly acknowledged the outstanding production achievements and contributions of 39 eXp Realty agents and teams in 2022. These eXceptional agents were recognised across diverse categories, encompassing top individuals and teams based on sides, GCI and volume in the U.S., Canada and internationally.

“Success is not just about one person or one company; it’s about creating a community that empowers one another to reach their full potential,” said Sanford. “I am so proud to honour this eXceptional group of agents for their outstanding work from last year. As the most agent-centric brokerage on the planet, we are laser-focused on supporting our agents. I speak for the entire eXp community when I thank and congratulate these individuals for their incredible achievements and contributions.”

The Winners Were Top Individuals by Sides, U.S. John Scalia, Florida

Charles“Chuck” Williamson, Wilson, North Carolina

Top Individuals by Volume, U.S. Sheryl Houck, Florida

Top Individuals by Sides, Canada Mark Verzyl, Alberta

Shannon Runcie, Saskatchewan

Claire Bilton Great Britain, UK

Rachel Vanderveen, Alberta

Soomin Kim, Austin, Texas

Mark Buchanan Great Britain, UK

Zhe Geng, British Columbia

Charles “Chuck” Williamson, Wilson, North Carolina

Leigh Martinuzzi, Australia

Top Individual by GCI, eXp Commercial Yoshimi Asano, Texas

Zhe Geng, British Columbia

Mark Verzyl, Alberta

Christopher Abraham, Great Britain, UK

Thomas Howe, Great Britain, UK

Claire Bilton, Great Britain, UK

The Short Term Shop, 15 markets

#TEAMFAST, Bay Area, California

Beer Home Team, Southern California

Top Teams by Volume, Canada Mark Verzyl, Alberta

Top Individuals by GCI, International Christopher Abraham, Great Britain, UK

Rachel Vanderveen, Alberta

Top Teams by Volume, U.S.

Top Individuals by GCI, Canada Rachel Vanderveen, Alberta

Chad Hetherman, Huntersville, North Carolina

Top Individuals by Volume, International

Top Individuals by GCI, U.S. John Scalia, Florida

Chandra Kaladhar Reddy Vennapusa, Bothell, Washington

Top Individuals by Volume, Canada

Top Individuals by Sides, International Christopher Abraham – Great Britain, UK

John Scalia, Florida

Affinity Real Estate, Ontario

The Jennifer Jones Team, Ontario

Infill Hub Group, Alberta

Top Teams by Volume, International Bjorn Kunzel, Australia

Consultan, Portugal

One Sixteen Group, Puerto Rico

Nuno Venceslau – Luxury Real Estate, Portugal

#TEAMFAST, Bay Area, California

Mark Z Home Selling Team, Metro Detroit, Michigan

Top Teams by Sides, U.S. The Short Term Shop, 15 markets

The Winners Were Rookies of the Year

Top Teams by Sides, Canada Atkinson Team, Alberta

Infill Hub Group, Alberta

Affinity Real Estate, Ontario

Top Teams by Sides, International James Conyers Team, South Africa

Consultan, Portugal

One Sixteen Group, Puerto Rico

#TEAMFAST, Bay Area, California

Beer Home Team, Southern California

Top Teams by GCI, U.S. The Short Term Shop, 15 markets

The Jennifer Jones Team, Ontario

Atkinson Team, Alberta

Top Teams by GCI, International One Sixteen Group, Puerto Rico

Mentor of the Year Brett Bonner, Washington

ICON of Year

Top Teams by GCI, Canada Affinity Real Estate, Ontario

eXp Realty: Chandra Kaladhar Reddy Vennapusa, Washington International: Monica Rodriguez Garcia, Puerto Rico eXp Canada: Jake Nicolle, Ancaster, Ontario eXp Commercial: Sarah Cooley, North and South Carolina

Team Arnaud Motreff Immobilier, France

Consultan, Portugal

Michael Weisman, Founder and Team Leader of the Real Property Team at eXp Realty in Portland, Maine

Jeffrey Buettner Philanthropist Award Luna Mariah Dietz, Oregon

Humanitarian of the Year

Woman of Influence

Jon Pugh, California

Veronica Figueroa, Florida

eXp South Africa News WE ROCKED THE to Celebrate Being Home to More Than 1,000 Agents in South Africa!

eXp Realty South Africa celebrated exceeding 1,000 agents by hosting a unique Rock The Comma virtual event on 6 September 2023 with guest speakers from around the globe! Industry leaders and international guests engaged in panel discussions on the future of real estate. The milestone represents an over 74% increase from the 574 total agent count in July 2022.

Ahead of the event, Andrew Thompson, Director and Country Leader of eXp Realty South Africa, commented, “eXp Realty South Africa has grown at a tremendous rate in such a short period of time. In celebration of our 1,000 agents milestone, we are excited to host Rock The Comma, a virtual event that will provide an opportunity for agents to learn more about how to take their real estate career to the next level with the world’s most innovative brokerage.” eXp Realty South Africa is the fastest-growing real estate business in the country. Having received its Property Practitioners Regulatory Authority License back in December 2020, it now boasts over 1,000 real estate professionals nationwide. Rock The Comma was a celebration of this landmark and welcomed all eXp team members across the globe and interested external parties, providing an opportunity to hear from industry leaders and enjoy panel discussions on topics such as the future of real estate, achieving success, and marketing.

Thompson added, “Despite rising interest rates, the company has had more transactions in the first six months of this year compared to last year. Hats off to all our agents for taking ownership of the company and the great work they are doing. We remain committed to putting agents first to equip them with the knowledge and tools necessary to reach their full potential. I am proud to be able to lead such an incredible group of agents through this expansion in South Africa and beyond.”

Rock The Comma was hosted by Andrew Thompson, with other globally renowned industry leaders participating as facilitators and panellists, such as Glenn Sanford (Founder & CEO: eXp Realty), Michael Valdes (Chief Growth Officer: eXp Realty), Jeff Whiteside (Chief Collaboration Officer: eXp World Holdings), Meghan Kelley (Vice President: eXp Global), Gawie Roussouw (Operations Manager: eXp Realty South Africa), Steve Johnstone (Chairman – Agent Advisory Council: eXp Global), and Lizna Nel (Property Practitioner: eXp Realty South Africa) to name but a few of the many industry eXperts who were in attendance.

Opportunities Await with the Latest ICON Programme Update *This applies to eXp Realty South Africa only.

eXp Realty celebrates all of our agents while also highlighting those who achieve eXceptional production levels and eXemplify our core values. Agents can achieve ICON status by meeting or eXceeding the Program’s Production Requirements during their Capping Period. Once involved in the ICON Programme, there are additional opportunities for ICONs to earn more awards by “giving back” time, talents, and knowledge to eXp’s agent population and also by attending specific eXp-approved events.

ICON agents are an integral part of eXp's culture. ICONs serve as role models, culture keepers, and a source of inspiration to other agents at eXp. To embody the ICON agent status, we ask that all ICONs familiarise themselves with the Programme and participate to the fullest eXtent possible.

ICON Benefits • Receive up to R150,000 in ICON Stock Awards R75,000 by meeting the ICON Production Award Requirements.

R70,000 by meeting the ICON Cultural Commitment Award Requirement.

R5,000 by meeting the ICON Status Event Attendance Requirement.

• ICON badge in eXp World • Exclusive access to the customizable ICON Brand Kit • Company-wide recognition via an article on life.exprealty.com, an announcement posted in Workplace, and during Friday Leadership Meeting ICON Production Stock Award Requirements Any agent that has paid the full Company Commission Cap and has met the additional requirement(s) will achieve ICON status in the month following the qualifying Settled Transaction. All Transactions must be completely settled and properly documented. Each Capping Period, the agent must meet ONE of the following Production Requirements: Option 1: • Paid company cap of R150,000, and • Paid additional capped status transaction fees of R15,000, and • Minimum of 35 closed transactions

OR Option 2: • Paid company cap of R150,000, and • Minimum Gross Commission Income (GCI) R3,000,000, and • Minimum of 10 closed transactions ICON Production Awards are subject to three years of continuous service and in Good Standing with eXp from the award date. Upon satisfaction of the vesting period, the underlying shares will be issued.

ICON Production Stock Award Issuance Upon review and approval of Production Requirement achievement, the ICON agent will be granted R75,000 in restricted stock units of publicly traded eXp World Holdings, Inc. common stock (NASDAQ: EXPI), which vest after three years. These shares of EXPI common stock will be issued and vest so long as the ICON agent remains in good standing and licensed eXclusively and continuously with eXp SOUTH AFRICA at the three-year vesting mark.

Stock awards earned under the Programme will be granted at the end of the calendar month in which the ICON agent is recognized (the month following the qualifying Settled Transaction) with the fair market value, as determined by the closing market price of EXPI’s common stock on the trading day that is the 15th day of the month.

If the 15th day of the month falls on the weekend or a market holiday, the stock award grant price will be based on the fair market value of the most recent trading day. For avoidance of doubt, restricted stock unit awards are subject to vesting and are not deemed issued until vested. eXample: If an agent qualifies for ICON status with a closing on August 5th, they will be recognized as a September ICON and their shares will be granted with a date of September 15th (or the previous Friday if the 15th is on a weekend). Stock will reflect in Shareworks at the end of their achievement month. Their ICON Cultural Benefit Year will run from September to September.

GQ Magazine Q&A with eXp Realty South Africa’s Michiel De Vogeleer

Michiel De Vogeleer is the founder of De Vogeleer Property, powered by eXp. He has earned his position as one of the top realtors in Cape Town through his genuine care and attention, market eXpertise, and utilising an adaptive marketing strategy.

Michiel leads a team responsible for representing buyers and sellers with distinguished architectural estates and new luxury developments.

Michiel achieved fast eXponential growth due to his creative business mind in the real estate industry. Michiel, a Belgian native, has always had a strong affinity for adventure sports and travel.

This passion eventually led him to settle in Cape Town, which is now his home. Michiel places a significant emphasis on customer service and innovative thinking in his pursuits. We had the opportunity to speak with him to gain insights into his real estate eXpertise.

What kind of clients could benefit from your services?

My team is very inclusive, so any type of client will find solutions to their specific property needs. Personally, I get most eXcited about all types of investors. I really like to connect people even beyond real estate.

What is one thing you would tell a young agent about having a successful and lasting career in the industry?

Control internal factors that come with entrepreneurship: self-motivation, falling in love with learning, taking forever responsibility, trying everything but narrowing down when you get clarity on your long-term vision and strengths.

Last but not least, collaborate as much as you can with like-minded people and create long-lasting partnerships. My core values that help me forward are still: innovation, collaboration, and transparency.

Can you tell us a bit about your background and how you got started in real estate?

The first time I came to SA was almost 15 years ago. Cape Town is the place to be for windsurfers who enjoy the waves. At the time, I was working practically every day for 10 months a year in tourism, which allowed me to escape European winter for 2 months.

How do you think the luxury real estate industry will continue to evolve in South Africa?

We have seen a shift in the demographics of luxury property purchasers in South Africa. Many South Africans have a pessimistic outlook on the future of the country. Many are semi-grating to the Western Cape and emigrating. Internationals, on the other hand, start to really value the affordability and the benefits it brings to their life eXperience.

The eXperience gave me an understanding of property and accommodation. When I permanently moved to SA about 7 years ago, I launched a tourism start-up which soon after partnered with KiteBnB. We leased properties that we were allowed to rent out on short-term booking platforms.

This trend will develop further. In daily conversations with many nationalities, few people in the world are happy with how their country is governed. In any case, a diversification of global assets is always the smart thing to do. They say the grass is greener on the other side but it’s actually only greener where you water it.

Quickly after I got into real estate where I eXperienced fast growth.

But the fundamentals are the same, selling a South African lifestyle through property with eXp Realty.

What role does social media play in the world of real estate?

Social media is what you want it to be. A paid advertisement lead generator, a networking platform, your personal listing platform, virtual business card. It cannot be missed in your marketing mix as it will help you build and scale the community you’re creating.

Community is one of the most valuable assets you will possess in your business and life. Social media is where everybody hangs out.

It’s a parallel virtual reality that will soon change into a more immersive eXperience. I have been closing sales in my metaverse and through virtual 360 tours consistently.

There are many real estate firms on the market, what makes eXp Realty unique?

In less than 3 years, eXp Realty grew over 1 000 agents in South Africa due to its disruptive business model and the services we provide to sellers and developers. That is most likely the fastest growth in real estate.

Globally we have 89,000 agents in the 24 countries combined. We are completely cloud-based. Our office is a metaverse to connect the whole world faster. All agents are independent property practitioners under eXp Realty.

This means that the agents in general approach the industry with a more entrepreneurial and collaborative mindset. We can sell anywhere in South Africa and even beyond borders.

Chat to me if you are an eXperienced real estate professional interested in joining my team.

List 3 things that make your current listing Hip House on 186 Loop Street a luxury listing?

It’s the most famous Penthouse in Cape Town. Many eXclusive events and functions have been held here. Large pool and outdoor bar on your private deck of 144 square metres. Uninterrupted postcard views over Devil’s Peak, Table Mountain and Lion’s Head.

Describe the eXp Realty eXperience in 3 words Network-king, eXponential (growth), disruptive.

What is next for Michiel?

Selling Hip House on 186 Loop Street penthouse and all other properties we have listed at De Vogeleer Property, [as well as] growing my national and international team of real estate entrepreneurs to maximise our global network in order to deliver the best marketing for all types of developers. In the bigger sphere of things: [I want to] inspire property practitioners to implement new-generation marketing strategies and while doing so, learn from them as well. michiel.devogeleer@expsouthafrica.co.za +27 83 653 0680 *Courtesy of GQ Magazine

Paving the Way to Success with eXp’s Agent Paths+ Programme

In our ongoing commitment to consistently enhance the development of our agents, eXp Realty South Africa has introduced the Agent Paths+ programme this year, a 24-hour training platform aimed at upskilling our agents. Aligned with eXp Realty's "agent-centric" strategy, Agent Paths+ is designed to offer high-quality development opportunities for our agents. These carefully crafted learning paths are intended to elevate an agent's real estate knowledge, empowering them to propel their business growth and achieve success. Each path is tailored to the agent's level of experience, focusing on skill-building to enhance production.

These paths that are available on the programme cater to both new and experienced agents, providing foundational knowledge of eXp tools such as CRM systems, eXp’s Metaverse, Workplace, local legal guidelines, and many more. Moreover, the paths instil an entrepreneurial mindset and cultivate fundamental real estate skills. For new agents, the emphasis is on productivity through lead generation, real estate planning, goal setting, and effective interaction with buyers and sellers. Ultimately, the paths are strategically designed to propel agents toward the attainment of further growth and production goals, fostering brand development and promoting a compelling value proposition.

SUCCESS

at Global Agent Awards

eXp recognised three South Africans at the annual global awards announcement. eXp Realty’s Chief Growth Officer, Michael Valdes, recognised eXp Realty South Africa’s Country Leader, Andrew Thompson as eXp Realty’s Country Leader of The Year, eXp Realty South Africa’s Financial Controller, Ilse Anhaeusser as Global Ambassador of the Year, with eXp Realty South Africa’s Property Practitioner, James Conyers, winning his NRG Properties powered by eXp Realty team in the Eastern Cape the Top Team By Units. This was an astonishing feat by the team with the company boasting over 89 000 real estate agents in 24 countries, of which just more than 1 100 reside in South Africa.

“I would like to thank and spotlight Ilse Anhaeusser for her unwavering commitment and invaluable contributions to both the business and our close-knit agent team on the financial management front. Her dedication has been instrumental in our success. [I would also like] to acknowledge the work James Conyers and his team at NRG Properties powered by eXp Realty do down in the Eastern Cape. Their dedication has been instrumental in our success, and we honour their outstanding work as a driving force behind the company’s growth,” continued Thompson.

“This came as a surprise and although I appreciate the gesture, this was honestly made possible by the team around me,” said Thompson. “I have been privileged to be surrounded by a strong South African leadership team and this award really goes to them for all their effort. I am eXtremely grateful for the unity and dedication of this team; our success reflects everyone’s collective effort.

According to Property24 statistics, the company had the highest number of listings in the Eastern Cape and Western Cape in August, ranking third and fourth in Gauteng and Kwa-Zulu Natal, respectively. This month currently sees the company retaining the top spot for property listings in the Eastern Cape and Western Cape, with the company also currently first in Kwa-Zulu Natal.

eXp Realty South Africa has also seen impressive growth on the market share property listing front.

The race to Vic Falls is still on!

RACE TO

VICTORIA FALLS Have You Joined the Race to Vic Falls?

eXp Realty South Africa is giving you a chance to WIN a seven-night holiday for four to Victoria Falls Safari Lodge, inclusive of flights from either Cape Town, Durban, or Johannesburg. To join the race, all you have to do is sign up 12 new agents to your first tier over the 12-month competition period. The first 100 agents to achieve this as Sponsor will be entered into a reducing draw.

The clock is ticking… Do not miss out on this INCREDIBLE opportunity!

Competition runs from 1 February 2023 – 31 January 2024.

Terms and conditions apply.

For more information, contact Amanda Wray at amanda.wray@exprealty.net

A Year of Successful Roadshows Our roadshows have taken us to all corners of the country this year, and they’ve been nothing short of insightful and engaging. Most recently, we made stops in Ballito, Cape Town and Rustenburg.

During these pivotal sessions, Thompson, alongside other distinguished guest speakers, offers insight into the most eXciting real estate opportunity South Africa has to offer, whilst unpacking the innovative eXp model. In addition, details are shared regarding the various weekly and monthly training initiatives offered for new and eXisting Property Practitioners, the enhanced eXp Teams offering, as well as insight into how to become a successful CAP agent.

"Our business is about relationships, and the more you network, the greater the chance of eXtending the opportunity to meet people, interact and ultimately benefit you and your brand. The people interaction is key to any good business, and our roadshows definitely grow our broader community of real estate professionals," eXplains Andrew Thompson, Country Leader, eXp Realty South Africa.

We can’t wait to see what 2024 has in store!

Spread the Word, eXp Realty South Africa is Offering a

Join eXp Realty South Africa in November and December 2023 and we will waive your monthly agent fees for the first two months*.

If you are a qualified agent with your PDE4, all you need to do is pay your once-off joining fee to make the most of this eXceptional offer!

Thereafter, you can enjoy a two-month fee holiday and focus your attention on building your realty business.

Access our Join App now!

Visit https://www.expsouthafrica.co.za/Join-our-team to be a part of our growing family of Property Practitioners today. *Ts&Cs apply.

Who can make use of this?

All qualified Property Practitioners who join eXp Realty South Africa in December 2023.

What does it entail?

All qualified Property Practitioners who join in these two months will pay a joining fee of R900 and receive two months of free/zero monthly fees, giving the agent a saving of R1 800.

What conditions are attached to this?

• If the Property Practitioner leaves within six months of joining eXp, the R1 800 will have to be repaid to eXp to cover the company’s costs.

• The Property Practitioner must come through the Join App. • The Property Practitioner must be in good standing (i.e., paid the R900 join fee) • Must be licensed with the PPRA under eXp South Africa.

• Must have signed the ICA and policies and procedures documents.

• The Property Practitioner must be PDE 4 qualified or better.

7

eXp Realty South Africa Property Practitioner Success Awards: August, September & October Celebrating eXcellence is an important part of our work at eXp Realty South Africa. Our agent-centric approach means that we’re invested in seeing our property practitioners reach new heights in their careers and inspire fellow team members to aim high! Our Property Practitioner Success Awards are aimed at shining a light on team members who’ve achieved certain milestones each month. The following individuals have gone above and beyond to meet client eXpectations:

August

Kelly Brown

Cara Spies

Daniel Atkins

Renier Bouwer

Quintus Bouwer

Cherise Lubbe

CAP AGENT

CAP AGENT

CAP AGENT

CAP AGENT

CAP AGENT

eXp Realty South Africa Listing Champion

Lizna Nel

Johan Nolan

Lizna Nel

Alida Tavener

Stuart Hyslop

eXp Realty South Africa GCI Sales Value

eXp Realty South Africa Most Unit Sales

eXp Realty South Africa Growth Champion

eXp Realty South Africa Property Practitioner of the Month

eXp Realty South Africa Agent Ambassador of the Month

September

Nancy Singh Margie van Rooyen CAP AGENT

eXp Realty South Africa Listing Champion

Johan Nolan

Deenie Martin

Steven Johnstone

Irene Swart

Brad Neille

eXp Realty South Africa GCI Sales Value

eXp Realty South Africa Most Unit Sales

eXp Realty South Africa Growth Champion

eXp Realty South Africa Agent Ambassador of the Month

eXp Realty South Africa Property Practitioner of the Month

October

Deenie Martin CAP AGENT

Ian Knott

eXp Realty South Africa Listing Champion

Brent Currin CAP AGENT

Lizna Nel

eXp Realty South Africa GCI Sales Value

Cathy Hoogenhout CAP AGENT

Steven Johnstone eXp Realty South Africa Growth Champion

Kym Clephane CAP AGENT

Johan van Huyssteen eXp Realty South Africa Property Practitioner of the Month

Johan Nolan

CAP AGENT & eXp Realty South Africa Most Unit Sales

Stuart Hyslop

eXp Realty South Africa Agent Ambassador of the Month

Congratulations to all our top-performing agents for the months of August, September & October 2023. We are eXtremely proud of your achievements and look forward to seeing what the future holds for you!

Industry News

eXp Realty Unlocks Nationwide Listing Network with the Power of eXp Exclusives eXp has launched eXp Exclusives, a cutting-edge platform that offers agents and their clients access to a broad geographic network of on-and-off market listings.

Participating agents in the United States and Canada will now be able to share off-market and pre-market listings with other eXp agents and clients through a mobile app, powered by Zenlist. eXp Exclusives is free to eXp Realty agents and will also house all eXp Realty active MLS listings. In addition – in many markets, eXp agents and their clients will also be able to access all MLS listings in Zenlist’s collaborative platform.

“At eXp, we firmly believe the highest and best form of marketing a property is placing it in the MLS and eXposing it to as many people as possible,” Leo Pareja, eXp Realty Chief Strategy Officer, told an eXcited group of eXp Realty agents during the company’s EXPCON 2023 general session.

“But we also understand there are situations where sellers may not want to enter the property into an MLS due to restrictions in

showing it and many other unique scenarios. For eXample, a new construction property that cannot be entered for safety reasons, a tenant-occupied rental property, or properties whose sellers are just not comfortable entering into the MLS but would sell if they received an offer that satisfied their needs and worked with their requirements.”

For home sellers looking to keep their sale confidential – including luxury properties whose high-profile clients do not want to publicly list their homes for sale – eXp Exclusives ensures that transactions remain private and secure while providing them with access to agents who are knowledgeable and eXperienced in off-market transactions. The platform also enables property tours and showings to streamline the client eXperience.

“Our agents asked for a way to deliver their clients an enhanced level of service for eXclusive, off-market listings, and we delivered,” said Pareja. “Agents are not only able to effortlessly create property collections and actively communicate with clients within the app, but they can also seamlessly refer properties to other eXp Realty agents. We are living through one of the most limited inventory periods in our lifetimes, so eXp is committed to providing as many ways as possible to create inventory and ways of selling homes for our agents and their clients. Our vision is to create the most eXpansive, worldwide listing network for eXp agents and their clients.”

eXp Realty Unveils Innovative Partnership with HomeHunter to Streamline International Property Search eXp has announced a new partnership with HomeHunter, an innovative web application designed to improve the home search process for consumers across Europe, the Middle East, South Africa, India, Australia and New Zealand.

HomeHunter is powered by WikiRealty and goes beyond a traditional search tool, providing a personalised, comprehensive, and centralised platform for an easy global home search. It goes beyond the limits of individual searches to streamline the hunt for a home, bringing together data from numerous international platforms. It also features an intuitive bookmarking function that allows users to save their favourite properties from different regions and platforms with just a single click, and provides a curated list of property suggestions based on user search history.

“HomeHunter is poised to become a core source for listing data all over the world with unprecedented opportunities,” said Glenn Sanford, Founder and CEO of eXp Realty. "We are immensely proud to be the pioneering brokerage to offer our agents access to this tool to improve the home search eXperience for their clients. It eXemplifies our commitment to enhancing our agents' value proposition on an international scale. By streamlining the home-buying process for consumers, this tool empowers eXp Realty agents to allocate more of their time to revenue-generating opportunities."

During this initial launch period, we highly value and encourage your feedback, as well as that of your clients. Please share any insights on what works well, areas that need improvement, and any missing features you may identify. Your input is greatly appreciated and will help us enhance the application even further!

Please direct your comments to

siya.ndzimande@exprealty.net

eXp Launches Thrive to Attract Culturally Aligned Teams eXp is eXcited to announce the launch of the new Thrive programme, designed to incentivise culturally aligned, producing teams to join the eXp Realty family.

Once onboarded, the team lead will receive an equity award based on their previous 12-month production, subject to future vesting.

“As a company committed to continuously pushing the boundaries in support of our agents, eXp Realty is always looking for new ways to enhance the agent eXperience,” said Michael Valdes, Chief Growth Officer, eXp Realty.

“Earlier this year, we introduced two incentive programs, Boost and Accelerate, aimed at helping independent brokerages and individual agents transition to eXp Realty. Now with the addition of Thrive, we are offering teams an accelerated equity opportunity. We understand that each team has its own unique culture and way of doing business, and we want to provide a platform for them to thrive in our agent-centric environment.” eXp Realty will provide this equity incentive to team leads of culturally aligned teams with more than 10 agents in addition to the team lead and a minimum of $40 million (U.S./CAD) in sales volume in the originating country over the previous 12-month fiscal period. International qualifications to be released and additional qualifications apply. A core criteria of this programme is for team leads to commit to team training and ensuring their team members integrate with the eXp Realty ecosystem as part of their cultural alignment with eXp. The Thrive incentive programme is rolling out in the United States and Canada immediately and will soon be available in eXp’s additional 22 global markets, subject to applicable law.

Producing teams who join under Thrive can look forward to the following benefits: • Equity incentives: Thrive provides an incentive model for a team’s move to eXp Realty. Once onboarded, the new team will qualify for an equity award based on their 12-month production prior to joining eXp Realty and the hypothetical retained company dollar that would have been paid during that period. Once onboarded, the new team lead will be granted an equity award that vests after their first three years with eXp Realty, according to the team’s average retained company dollar during the first three years.

• Team training: As part of the cultural alignment with eXp, teams will be given training to learn eXp’s innovative model and fully “plug in” and integrate with all the resources and community available to them.

• Support: Teams will receive administrative and operational support, access to world-class technology, tools, and more during the transition and after joining eXp. Additional benefits include revenue share opportunities and an attractive commission model. eXp Realty is committed to continuously pushing the real estate industry’s boundaries in the quest to be the most agent-centric brokerage in the world. By providing agents and brokers with a unique and empowering cloud-based platform, plus attractive compensation model, we will continue to attract like-minded agents and leaders who will help shape and grow the company.

eXp Realty Unleashes Agent Marketing Powerhouse with Game-Changing Listing Kits The Listing Presentation Kit is a carefully crafted package that empowers agents to skilfully present a property’s comprehensive marketing strategy to clients. By utilising this kit during client appointments, agents can enhance their ability to secure listings with confidence and efficiency, creating a professional and lasting impression.

The Active Listing Kit offers an array of features tailored to enhance the marketing efforts of agents, ensuring their active listings receive the attention they deserve. Some of the key features of the Active Listing Kit include: Seamless integration with eXp Realty’s direct MLS data feed: This integration ensures that all information is accurate and up-to-date and eliminates the need for manual data entry or constantly updating multiple platforms, saving agents valuable time and effort.

All-inclusive print marketing materials: The kit provides agents with professionally designed print materials, including flyers, postcards, door hangers, thank you cards and a sign rider. Each printed material incorporates a distinctive QR code, seamlessly directing potential buyers to a sophisticated single-property website, with detailed information about the listing and a lead generation form.

Digital assets: In addition to a lead-generating single-property website, the kit includes essential digital assets: a seller’s roadmap, listing management checklist and a comprehensive single sheet detailing eXp Realty’s listing marketing resources for agents. These resources empower agents with the knowledge and tools they need to effectively manage their listings.

Social media templates: The Active Listing Kit provides agents with professionally created social media templates, enabling them to showcase their listings on various social media platforms, maximising the property’s visibility online.

Convenient printing and shipping: The kit simplifies the printing and shipping process for agents, allowing for easy dissemination of marketing assets. Agents can also take advantage of direct mailers that can be sent to specific audiences or neighbourhoods, streamlining the process for efficient and targeted marketing campaigns. This feature enables agents to cultivate and nurture leads effectively, ensuring a personalised approach to potential buyers.

“We are committed to providing industry-leading support and resources for our eXp Realty agents, delivering enhanced tools that make marketing and branding easier for them and amplifying their impact in the market,” said Carolyn Merchant, Chief Marketing Officer, eXp Realty.

“Backed by the formidable eXp Realty brand, our agents can confidently take centre stage, seizing opportunities and delivering eXceptional results for their clients. We are dedicated to helping our agents grow their businesses by offering and constantly iterating on the finest marketing tools and making it easy for them to access and utilise these valuable resources directly through the eXp Marketing Centre.” eXp Realty’s Listing Presentation and Active Listing Kits are currently available to U.S. eXp Realty agents, with plans to eXpand into Canada in 2024.

Tips for Festive Season Sales A common narrative in real estate is that the festive season is a terrible time for property sales, which is not entirely true. Competition is significantly less during this period because of this widely populated belief, increasing the chances of securing a sale for sellers with enough visibility where it matters. Do not assume that potential buyers stop their search for property once the silly season kicks off.

Make the most of the holiday season while other sellers are reluctant to list their homes. Fewer properties on the market means that motivated buyers will have relatively fewer prospects to tempt them, and that is how you could seal the deal!

Follow these tips for selling your property during the festive season: Add some festive cheer to your showrooms: People are generally in a happy and festive mood during this time of year, and you should position yourself for success. Add a bit of holiday décor to your property (but try not to overdo it), especially if it is a residential property.

Doing so will not only be in keeping with the general cheer in the air, but it will also make your property appear cozier and homier.

Take flattering visuals and be very descriptive: This applies during the festive season and all year round too. Making use of positive descriptive words to sell your property is key, along with visuals that paint the best picture of what it has to offer.

Increase your online presence: The digital era has truly changed how we conduct business. Potential buyers are always online, looking to find their perfect home. From social media to listing platforms and websites, gaining maximum visibility online is what matters. eXp Realty South Africa champions this approach.

As a brokerage that is shaping the future of real estate and breaking geographical boundaries, we have invested in digital platforms to make the property sales process a lot more seamless and effortless!

Season’s Greetings from the eXp Realty South Africa Team!